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Dutch Government to Pay $1.6 Billion in Gas Extraction Damages

The Netherlands will spend 1.2 billion euros ($1.6 billion) to compensate for damaged houses and buildings after temblors linked to extraction of natural gas in the Groningen province led to a public backlash.

“There is no doubt anymore that those tremors were caused by gas extraction,” Henk Kamp, minister of Economic Affairs, said today in Loppersum, a village in the Groningen province 127 miles north of Amsterdam. The government will cut gas production by 21 percent to 42.5 billion cubic meters in 2014 and 2015, lowering gas proceeds by 700 million euros this year, 600 million in 2015 and 1 billion in 2016, he said.